Mumbai: Nearly two years, MMRDA still searching lessee for BKC plots

It's been nearly two years, still the Mumbai Metropolitan Region Development Authority (MMRDA) is searching lessee for its G-block Bandra Kurla Complex (BKC) two amalgamated plots comprising 6,018.90 square metre (sq.mt). In a latest development, it has extended the bids submission deadline by another one month of its old tender by July 30th from June 28th. The MMRDA to conduct E- Auction for shortlisted bidders.

The Free Press Journal has been tracking the progress of this proposed land bank monitisation plan of MMRDA from the outset. The MMRDA due to slow down in real estate market could not draw the expected response and now the prevailing Covid-19 situation is further delaying the plan.

The permissible built up area of these two amalgamated plots is 30,000 sq.mt and the reserve price per sq.mt is Rs 3.44 lakh. Interested one, should make an EMD of Rs 20 crore through bank guarantee and Rs 5 lakh through online transfer.

Reportedly, the MMRDA had amalgamated the two plots C-44 and C-48 at G -block of BKC so it can obtain good response. As earlier three plot were offered separately. Of which, only one plot (C-65) comprising 12,500 sq. mt was bought by the Japan's Sumitomo in 2019. It was the biggest land deal in the country of 2019, and the said deal was expected to bring revenue at base price of Rs 2,300 crore to the MMRDA.

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